MongoDB, Inc. (NASDAQ:MDB) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 22.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,367 shares of the company’s stock after purchasing an additional 435 shares during the quarter. PNC Financial Services Group Inc.’s holdings in MongoDB were worth $415,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MDB. Cloud Capital Management LLC bought a new stake in MongoDB during the 1st quarter valued at $25,000. Hollencrest Capital Management bought a new stake in shares of MongoDB in the 1st quarter worth $26,000. Cullen Frost Bankers Inc. raised its stake in shares of MongoDB by 315.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock worth $28,000 after buying an additional 120 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of MongoDB in the 4th quarter worth $29,000. Finally, Coppell Advisory Solutions LLC raised its stake in shares of MongoDB by 364.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company’s stock worth $54,000 after buying an additional 182 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MDB. William Blair reissued an “outperform” rating on shares of MongoDB in a research note on Thursday, June 26th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price objective on shares of MongoDB in a research note on Thursday, June 5th. Redburn Atlantic raised MongoDB from a “sell” rating to a “neutral” rating and set a $170.00 target price on the stock in a research report on Thursday, April 17th. JMP Securities reissued a “market outperform” rating and set a $345.00 price target on shares of MongoDB in a research report on Thursday, June 5th. Finally, Scotiabank upped their price target on MongoDB from $160.00 to $230.00 and gave the company a “sector perform” rating in a research report on Thursday, June 5th. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $281.31.

Insider Activity

In related news, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the sale, the director directly owned 21,096 shares in the company, valued at $4,241,983.68. This represents a 5.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $243.89, for a total value of $2,032,823.15. Following the sale, the chief executive officer owned 236,557 shares in the company, valued at approximately $57,693,886.73. This trade represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,416 shares of company stock worth $11,936,656. Company insiders own 3.10% of the company’s stock.

MongoDB Stock Down 1.5%

MongoDB stock opened at $204.37 on Friday. The business has a 50 day moving average price of $215.43 and a two-hundred day moving average price of $209.99. The stock has a market cap of $16.70 billion, a price-to-earnings ratio of -179.27 and a beta of 1.44. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $370.00.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.65 by $0.35. The firm had revenue of $549.01 million during the quarter, compared to analysts’ expectations of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 EPS. On average, analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

MongoDB Profile

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.